Macro-economics
Medium to long-term macro-economic processes can be predicted well based on econometric analysis of historic information. Models resulting from such studies differ in terms of the incorporated equations and coefficients. Moreover, updates of historic data often come annually, allowing for an improvement of the model. To facilitate such a modelling practice, Metronamica can be equipped with a declarative modelling component for macro-economic models.
In this component, you can enter the equations of your model, specify additional information for specific variables —such as a descriptive name and unit— and import historic data. Model results can be overwritten with data where available, for example in case the start time of the simulation is earlier than the latest economic data. You can indicate which variables will be available in the policy user interface, either as external factor (exogenous), policy measure (exogenous) or indicator (endogenous). The software easily works together with Excel. Input data can be copy-pasted and model results can be written to Excel directly.
